We Paid Cash :: Vacation Home on a Lake
All of my life I wanted a vacation house on a lake. I don’t know what gave me this desire and I don’t remember a time that I did not have it.
About eleven years ago there was a class action suit against the manufacturer of the siding on our house. In the end, we got a check for $6500 in compensation. Our siding was fine so we didn’t need the money for replacement. I asked my husband if we could set up a savings account for my dream of a lake house. He was agreeable.
As I was setting up the account, I prayed for that money to be able to purchase our vacation property. I thought to myself that it was a ridiculous prayer as it was not even enough for a down payment and we couldn’t afford to put any other money toward it anyway.
Then a Big Surprise!
Two weeks later, I was listening to a garage sale program on a local radio station. A man called in with a 1/12 share of a cottage on a lake for $6000. Well, I was so excited I didn’t even write down the phone number. I called the station after the program and they had the number in their notes.
We contacted the owner and went to look at the house that afternoon. We agreed to purchase his share of the house. He told us that he had paid $5000 for his share 18 years earlier and he just wanted another family with kids to enjoy it now.
What We Gained
We have been blessed by being able to get away one week out of every season for over 10 years and we only pay 1/12th of the cost of keeping up the house. Our share of the upkeep is less than we would pay to rent a house for only one week.
We could have spent that settlement check on so many things but have been so blessed to have saved it and invested it in this way. Property values have tripled on the lake, so our money will someday give us a good return. We have also been able to share our time with friends who needed a break and could not afford to pay for a vacation.
(No picture — we have been going over there so long that we have long ago stopped taking pictures!)
Lana, and husband Bill live debt-free in Wellford, SC. They homeschooled their five children for 23 years and they are all grown and either married or in college. She enjoys teaching young women how to coupon and stretch the family budget.
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